Greek Parliament approves Deutsche Telekom’s investment in OTE

The Greek Parliament in Athens has approved the agreement between the Greek State and Deutsche Telekom. The agreement is still subject to the necessary regulatory and antitrust approvals. The Greek Inter-Ministerial Privatization Committee and the Supervisory Board of Deutsche Telekom AG had already approved the transaction.

René Obermann, CEO of Deutsche Telekom, said: "I am very happy about the decision of the Greek Parliament. We take great pride in the fact that it considers Deutsche Telekom a valuable strategic partner for OTE. Together, OTE and Deutsche Telekom will drive innovation and consolidation in Europe’s telecommunications industry. We are convinced that exchanging know-how and leveraging synergies within a world wide group are crucial success factors in our industry. This inspires and motivates us."

The closing of the transaction is expected during the second half of the year.